For sale is a 5-year-old credit repair service based out of Pittsburgh. Revenue is almost 100% recurring through month-to-month contracts with clients and most clients stay an average of 6-9 months. They also receive recurring revenue via an affiliate partnership with an identity theft protection/credit monitoring business.
The business did well in 2019 with $309K in net profits but hit a high in 2020 with over $1.1M in net profits. However, in mid-2020, Google issued restrictions against credit repair companies posting paid ads on any of their platforms. This did not affect the recurring revenue but did slow down the flow of new clients. The company was forced to create a new digital marketing strategy and they have spent the past year and a half building back both paid and organic traffic through other social media, affiliate and grassroots campaigns.
Revenue has remained steady in 2022 with numbers similar to 2021 (though there are some marketing initiatives underway to reach new potential clients and continue to climb back to 2020 levels).
Though the staff currently works onsite, it is possible to transition the team to a fully-remote environment. Additionally, the Managing Director (who is also a 25% owner) would be open to potentially staying on to help a new owner run the day-to-day operations.
The business has been SBA pre-approved for a qualified buyer.